The U.S. Intertemporal Budget Constraint: Restoring Equilibrium Through Increased Revenues or Decreased Spending?

William J. Crowder
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William J. Crowder: University of Texas at Arlington

Macroeconomics from EconWPA

Abstract: This paper tests the stability of the U.S. federal intertemporal budget constraint over the postwar period. The implied equilibrium budget path is estimated and used to determine which component of the budget has greater responsibility for the recent intertemporal violations.

Keywords: Budget Deficit; Intertemporal; Cointegration (search for similar items in EconPapers)
JEL-codes: H6 E6 C3 (search for similar items in EconPapers)
Date: 1997-02-14
Note: Type of Document - PostScript; prepared on IBM-PC; to print on HPLaserjet postscript; pages: 34; figures: included in the paper
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